Steinhof share slump

445 at 4pm from a high of 9500 - 18 months ago.

now is the time to buy

PeeKay wrote: now is the time to buy

Germans just about to lay charges seemingly , and the banks being asked to bail out, I’m not sure the company will survive

Steinhoff shares should be declared JUNK..

Wiese is on a selling spree of Shoprite shares.. will Shoprite also suffer the same fate as Steinhoff

Wiese is selling off Shoprite to cover his Steinhoff loan responsibilities. There's nothing wrong with Shoprite

Over the Air wrote: Wiese is selling off Shoprite to cover his Steinhoff loan responsibilities. There's nothing wrong with Shoprite

Correct, selling pressure is coming from Wiese, he's already sold R3bil of Shoprite shares to cover his Steinhoff margin calls. If Steinhoff keeps dropping Wiese will probably have to keep selling his Shoprite shares. Shoprite could however be the big beneficiary out of this as the whole Steinhoff/Star/Shoprite structure didn't benefit the business and its also missed the 10% Ramaphosa retail run. Bought a bit yesterday afternoon and will buy a bit more if it dips below R200. If anyone thinks its too risky then just buy Joffe's business long 4 life and thank me in 10 years :lol:

so now the 2015 financials are not reliable. maybe further back too. seems only european units incorrect or am i mistaken